Where is the most housing supply coming?
Kuala Lumpur has 89,252 units under a live permit against 11,366 registered sales a year — 7.9 years of its own transaction volume. Kedah sits at 0.5. This needs the permit register and the registered-sales register held together, which is why it is not a chart you will find elsewhere.
Ask AI about supplyWhat this measures, and what it does not
Each row divides the units under a live KPKT permit by one year of registered sales in that state. A ratio of 3 means the forward pipeline equals three years of everything the state currently transacts.
This is not an absorption rate. Absorption needs listing inventory and how fast it clears, which is not collected here. The pipeline counts new units while registered sales include subsale, so the ratio compares incoming new stock against the whole market's demonstrated throughput. Read it as pressure, not as months of stock.
The sales rate uses 2022 and 2023, the last two years that are fully registered. Registrations arrive long after the sale — this dataset holds about 142,000 sales for each of those years but only 109,000 for 2024 and 42,000 for 2025 — so including recent years would understate the rate and inflate every ratio here.
Forward supply as a multiple of annual sales
States marked thin sample transact under 1,000 homes a year, so a few hundred units move the ratio by whole years. The figure is real but is not comparable to a state that registers tens of thousands of sales.
Reading it honestly
- A permit is a deadline, not a launch date. A developer must complete and hand over inside the window, so these units are contracted to land rather than scheduled to go on sale.
- Heavy forward supply tends to cap resale prices, because a buyer has the choice of something new. It does not predict a fall.
- Some permitted projects never complete. The register does not mark abandonment, so treat the pipeline as an upper bound.
- State averages hide districts. The pipeline page breaks the same data down by quarter and state.